Capital A granted extension for submission of regularisation plan

November 3rd 2023

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Malaysia-listed Capital A, the parent company of AirAsia group airlines, has been granted a deadline reprieve, to December 31, for delivery of a restructuring strategy to the Bursa Malaysia stock exchange. Read More » On July 8, 2020, the Bursa Malaysia issued Capital A, then branded as AirAsia Group, with a Practical Note 17 (PN17) notice due to its financial standing at the time. To continue to trade on the local stock exchange, a PN17 requires a company to submit and receive approval for a financial regularisation plan within a specified time. This is the third extension requested by the company and to be granted by Malaysia’s regulator. “The extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of the company and to de-list the company in the event the company fails to submit its regularisation plan to the regulatory authorities on or before 31 December, 2023,” Capital A said in a regulatory filing. Capital A shares also could be suspended from trading or delisted from the bourse if the company fails to obtain approval for its regularisation plan or implement it within the required timeframe.